Jumbo Loans

Jumbo is the term used to describe loans that are larger than the limit (currently $240,000 for single family homes) set by FNMA and FHMLC. Almost all of the fixed rate and adjustable rate programs discussed have a corresponding jumbo program. There are no Jumbo counterparts to FHA and VA loans, which have different, typically lower, limits than FNMA and FHMLC.